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Nova Eye Medical ( (AU:EYE) ) just unveiled an update.
Nova Eye Medical Limited reported a record revenue of A$29.3 million for FY25, marking a 23% increase from the previous year, driven by strong sales of its iTrack™ Advance device. The company showed significant growth in the US market, achieving six consecutive half-years of sales increases and nearing EBITDA positivity, which underscores the effectiveness of its business model. Strategic developments include a potential increase in MIGS market share, regulatory progress in China, and ongoing innovation in drug delivery applications. The company also received government support through a federal grant, reinforcing its position in the eye care industry. Looking ahead, Nova Eye Medical aims for continued sales growth and breakeven EBITDA in the first half of FY26.
More about Nova Eye Medical
Nova Eye Medical Limited operates in the medical technology industry, focusing on innovative solutions for eye care. The company is known for its iTrack™ Advance device, which is used in the treatment of glaucoma, and it is actively expanding its market presence, particularly in the United States.
Average Trading Volume: 496,230
Technical Sentiment Signal: Hold
Current Market Cap: A$41.28M
Learn more about EYE stock on TipRanks’ Stock Analysis page.